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Tuesday, August 23, 2011

Positive global cues helped Indian shares register gains for the second day in a row. The BSE Sensex jumped 156.77 points or 0.96%, off 50.74 points from the day's high and up 285.29 points from the day's low. World stocks rose, with sentiment boosted by Chinese data and expectations Federal Reserve Chairman Ben Bernanke will signal readiness later this week to support struggling US economy. The Sensex has jumped 356.80 points or 2.21% in two sessions from a 14-1/2-month low of 16,141.67 on 19 August 2011.

The sentiment still remains fragile and the volatility in the markets will stay for a while. Market participants will continue to see what is happening in the global equities so as to get some direction. Bargain hunting could limit the downside.

The global cues look supportive today and may lift the Indian markets higher in the opening trade.

Daily trend of FII/MF investment in equities

The FIIs have sold Indian stocks worth a net of Rs1,281.10 crore on August 22, 2011. The domestic investors have sold Indian shares worth a net of Rs33 crore on August 17, 2011. The data is as per the SEBI website.

Global signals

The European stock markets ended higher Monday (August 22, 2011) in a rebound from last week's rout, with shares in Italian oil major Eni SpA among the top performers as Libya appeared on the verge of a leadership change.

The US stocks ended slightly higher on Monday after four weeks of losses as investors hesitated to take big risks without a catalyst for buying.

Self belief and conviction appear to be in short supply – whether it’s the Government or Indian cricket team. The same also could be said of investors, some of whom have badly burnt their fingers in the recent collapse. But, we may see some stability today after the turmoil and extreme volatility of four straight weeks.

Dish TV is set to launch Conditional Access Module (CAM), a device that will enable consumers with set-top boxes of other DTH service providers to switch to Dish TV's feed of television channels. (ET)

Religare Finvest plans to increase its loan portfolio to Rs 140bn by the end of the current fiscal, betting big on the small and medium enterprises (SME) sector. (ET)

The downturn in global markets has taken a toll on Essar Oil's plans to raise US$1.5bn in foreign currency loans to finance its expansion plans and forced the company to look for options in a difficult environment. (ET)

On the auspicious day of Janmashtami, Lord Krishna's birthday, the bulls seemed to receive a major boost in the form of a strong trading session. The key Indian stock indices ended with smart gains at the end of a choppy session, starting off the week on a positive note. Impressive buying was seen in Oil & Gas, Power, Metals, Capital Goods and FMCG stocks. Even the Mid-Cap and the Small-Cap stocks witnessed smart buying.

SRS Cinemas is the cinema exhibition brand under which the company operates a chain of cinemas spread across six cities. This includes 11 properties at strategic locations having 30 screens
and 7608 seats in three states.